The African Development Bank (AfDB) has said that Nigeria’s recovery in 2018 from economic recession will have positive spillovers for West Africa’s regional growth trajectory over the short to medium terms.The President of the AfDB, Dr. Akinwumi Adesina, made this known at the inauguration of 2019 African Economic Outlook and West Africa Regional Outlook in Abuja. The AfDB President added that with successful conduct of the 2019 general elections and the government’s commitment to the implementation of the Economic Recovery Growth Plan (ERGP), the future looks brighter for the region. “About a third of African countries grew by four percent or more and 15 posted growth of less than three percent. “Across the regions, recent data shows that East Africa was the fastest growing in 2018 at 5.7 percent, followed by North Africa at 4.9 percent and West Africa was third at 3.3 percent while Central Africa had 2.2 percent and South Africa with 1.2 percent,” he said. Adesina noted that since inception, the African Economic Outlook and Regional Economic Outlook has served as useful report highlighting the continent’s underlying economic growth prospects and opportunities.

Source: The North Africa Journal April 03, 2019 11:37 UTC